Buying your first home is a big deal. Add kids to the mix, and it's a whole new ball game. Whether you're on parental leave, juggling daycare, school drop-offs or trying to stretch your budget in a rising market, getting into your first home takes more than luck; it takes a plan.
At Aussie, we've helped thousands of young families navigate this journey. Here are top tips to help you confidently move forward and avoid being overwhelmed.
This guide includes real-world first home buyer tips for young families from Aussie's national network of award-winning brokers and buyer's agents.
Knowing what matters most to your family
Your first home isn't just a house. It's where your family story unfolds. So, before you start house hunting, take stock of what matters most. Think about:
School zones: These can affect property value and daily routines.
Safety and streetscape: Look for low-traffic streets and a strong sense of community.
Parks and play spaces: Green space = happy kids (and happier parents).
Accessibility: Being close to shops, daycares, schools, and public transport can save you time.
Commute times: The shorter the commute, the more time you spend at home.
Your first home should also be flexible enough for the next five to ten years, not just the present. So, what should you consider?
Apartments | Townhouses | Houses |
|---|---|---|
Great for budgets and low on upkeep, just make sure there’s room to grow. | A solid in-between. You’ll often get a small yard and smart layout in a family-friendly pocket. | More space to spread out, but they typically come with a bigger price tag and more upkeep. |
Ask yourself: Will this still work if we have another child? Need a home office? Get a dog? You don't want to outgrow it too fast.
When buying a home with kids, priorities also matter.
Lock in your non-negotiables early: number of bedrooms, backyard, close to childcare.
Be realistic about nice-to-haves, like pools, second living rooms or walk-in wardrobes.
Focus on what makes the home work for your daily life. You can always style it up later.
Talk to an Aussie Broker early. We'll help you match your must-haves to your budget and uncover lenders who understand family life.
Understanding your borrowing power as a family
When it comes to loans, families are assessed differently and for a good reason. Here’s how lenders look at your situation:
Dual incomes with dependants: Your income counts, but so do your expenses, including the cost of raising kids.
Childcare and parental leave: Childcare fees are treated like a regular debt. Income from parental leave may be excluded, unless you provide a return-to-work letter.
Part-time work: Accepted, but your borrowing power may drop compared to full-time income.
What about HECS and borrowing power?
HECS/HELP repayments are treated like any other loan.
Even though they come out of your tax, lenders still factor them into your affordability.
A big student debt won’t block you, but it might trim what you can borrow.
You might also be interested in: 2025: HECS home loan changes
Credit cards, personal loans, and car finance can also impact borrowing power even if you pay them off on time. Lenders look at your total financial commitments, not just your repayment history. That means a high credit card limit or ongoing loan can reduce the amount you can borrow for a home.
Pro Tip: Use Aussie’s Borrowing Power Calculator to get a quick estimate based on your family’s real numbers. Remember, borrowing power calculators don’t always factor in complex household costs. An Aussie Broker can personalise your scenario.
What financial support can young families access in 2025?
In 2025, there's good news: first home support for young parents is strong.
First Home Guarantee | Family Home Guarantee | State-Based Support |
|---|---|---|
Buy with as little as 5% deposit | Only a 2% deposit needed | First home buyer grants (up to $30K in some areas) |
No lenders mortgage insurance | No LMI | Stamp duty concessions |
Available to singles and couples buying their first home | Designed for single parents with at least one dependent | Fee waivers on land tax or mortgage registration |
Price caps apply and vary by state | You don't need to be a first home buyer, not currently own a home |
|
Pro tip: You can combine schemes. For example, simultaneously use the First Home Guarantee and apply for a state-based stamp duty discount or grant. We can help you map it out.
Planning your property search around family needs
Buying a home with kids? Don't just follow your heart; follow the checklist.
Shortlist your non-negotiables
Before falling for a splash back or bay window:
Decide on key needs like the number of bedrooms, layout, and school zones
Think about lifestyle like proximity to parks, commute times, and support network
Pro tip: Write down your top 3 deal-breakers. If a home doesn't meet those criteria, walk away.
Prepping for open homes with kids
Bring snacks and activities
Time visits around naps
Use checklists to stay on track
Bonus tip: Try virtual tours first to narrow your list.
Decide between new builds and established homes
Established homes | New builds |
|---|---|
Ready to move in | May lack nearby infrastructure early on |
Often, in mature suburbs | Energy-efficient inclusions |
May need renos | Can customise layout |
We'll help you weigh upfront costs, timelines, and resale value so you can make the right decision for your family.
Think ahead, not just for now
When inspecting homes, consider how life might change:
Will this layout still work when the kids are teens?
Is there room for a study, playroom, guests or second lounge?
Is the backyard future-proof?
What's the resale potential in five to ten years?
Flexibility is gold. Homes with extra storage, multipurpose spaces, or even a decent garage can make life easier as your needs evolve.
What are the common pitfalls first-time family buyers should avoid?
Things move fast when buying a home with kids but skipping key steps or overreaching can cost you later. We've worked with thousands of young families, and here's what we've learned: most slip-ups are avoidable with a clear plan and the right support.
Here's some family home loan advice to help you sidestep the common traps:
Not factoring in all the upfront and ongoing costs
Focusing on your deposit and monthly repayments is easy, but that's just the start.
Upfront costs like stamp duty, conveyancing, and inspections add up fast.
Ongoing costs like council rates, insurance, utilities and maintenance can quickly stretch your budget.
Childcare is often one of the biggest hits to a family's cash flow and is non-negotiable.
Aussie Insight: We help families map out their full monthly outgoings, so they know what's possible and where there's wiggle room.
Forgetting to budget for life on one income
It's common for one parent to go part-time or take extended leave, but many forget to factor this into their finances.
A drop to a single income can make repayments tight if you're not prepared.
Casual or contract work might not meet every lender's criteria.
Unexpected gaps, like illness or changes in return-to-work plans, can strain your budget.
Aussie Insight: We'll help you plan for your leanest months, not just your best ones and find lenders who'll consider flexible income sources like return-to-work letters.
Making an offer without pre-approval or inspections
Falling in love with a home is easy. But you could get stuck if you make an offer before you're financially ready.
No pre-approval means you might not know your actual limit or, worse, get knocked back.
Skipping building inspections or contract reviews can lead to costly surprises after you move in.
Going in blind might mean you miss better lending options, rebates, or support schemes.
Aussie Insight: We can help you sort pre-approval upfront and build a buying strategy tailored to your goals.
Watch out for: Pre-approvals that lapse before you find a property. Always check expiry dates and reapply early if needed.
Stretching for the dream instead of starting smart
Chasing the 'forever home' from day one is easy, but going big too early can backfire.
Maxing out your borrowing might leave no room for school fees, car repairs or interest rate changes.
Emotional buying can lead to mortgage stress if the numbers don't add up.
Overlooking stepping-stone homes (smaller properties in great locations) could slow you down in the long run.
Your first home doesn't have to be your last. A well-chosen first step can help you build equity, gain confidence, and move up sooner with less stress and more options.
FAQs: First home buyer tips for young families
Ready to make your move?
Buying your first home as a young family can feel like a lot, but it's also one of the most exciting steps you'll take. With Aussie in your corner, you're not doing it alone. Talk to an Aussie Broker today, and let's unlock the home your family deserves.
